Africa Bonds

The Republic of South Africa has set the tenor on its prospective debut sukuk, and plans to release initial price thoughts early this week. The borrower’s conventional bonds widened 5bp Monday, which some debt bankers away from the deal ascribed to the National Treasury’s plan to close the funding gap for state electricity provider Eskom. But others argued it was in line with wider market weakness.

Ghana's lead managers defended what looked like a low multiple of oversubscription on the sovereign's Thursday $1bn bond deal as they released the final book size, pointing to the quality of the orders received.

The Republic of Ghana returned to the international bond markets on Thursday, pricing a $1bn 2026 amortising bond to yield 8.25%, despite worries about the country's fiscal position and a weakening currency.

The Central Bank of Tunisia has hired Nomura to arrange a yen deal. The deal will be backed by the Japan Bank for International Cooperation, said a source close to the deal.

The Republic of Ghana has set dates for a European and US roadshow for its new Reg S/144A Eurobond.

The Republic of South Africa has scheduled investor meetings in September for its debut international sukuk, bringing closer to reality its plans to be among an expected flurry of deals before the end of the year.

Ghana is expected to undertake a liability management exercise on its $750m 8.5% 2017s alongside a new Eurobond it is planning for September, said a banker away from the deal.

The Republic of South Africa has scheduled investor meetings in September for its debut international sukuk, bringing closer to reality its plans to be among an expected flurry of deals before the end of the year.

The Republic of South Africa has set investor meetings in September for its debut international sukuk, solidifying its plans to issue among the flurry of sovereign Islamic notes expected before the end of this year.

The Republic of South Africa has set investor meetings in September for its debut international sukuk, solidifying its plans to issue among the flurry of sovereign Islamic notes expected before the end of this year.

Ghana is expected to undertake a liability management exercise on its $750m 8.5% 2017s alongside the new Eurobond it is planning for September, said a banker away from the deal.

Egyptian financial authorities will meet with market participants on Wednesday to discuss a revised version of the country’s sukuk law, an official at the Egyptian Financial Supervisory Authority (EFSA) told IFIS.